NMI Holdings, Inc. (NASDAQ:NMIH) Sees Significant Drop in Short Interest

NMI Holdings, Inc. (NASDAQ:NMIH - Get Free Report) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,430,000 shares, a decline of 16.9% from the March 31st total of 1,720,000 shares. Based on an average daily volume of 598,100 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.9% of the company's shares are sold short.

Insider Buying and Selling at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the transaction, the executive vice president now directly owns 49,218 shares in the company, valued at approximately $1,744,285.92. This represents a 2.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the completion of the transaction, the executive vice president now owns 37,470 shares in the company, valued at approximately $1,344,423.60. This represents a 34.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of NMI

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in NMI by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider's stock worth $263,160,000 after purchasing an additional 39,503 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of NMI by 70.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after acquiring an additional 844,037 shares during the period. American Century Companies Inc. grew its holdings in shares of NMI by 8.0% in the 4th quarter. American Century Companies Inc. now owns 1,957,179 shares of the financial services provider's stock worth $71,946,000 after acquiring an additional 145,591 shares during the period. Donald Smith & CO. Inc. grew its holdings in shares of NMI by 34.8% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider's stock worth $48,077,000 after acquiring an additional 337,996 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of NMI by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider's stock worth $47,445,000 after acquiring an additional 4,570 shares during the period. Institutional investors and hedge funds own 94.12% of the company's stock.

NMI Trading Up 0.6 %

Shares of NMI stock opened at $36.38 on Friday. The company has a fifty day simple moving average of $34.90 and a 200-day simple moving average of $36.80. NMI has a 12-month low of $31.59 and a 12-month high of $42.49. The company has a current ratio of 0.60, a quick ratio of 0.83 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 1.41 and a beta of 0.62.

NMI (NASDAQ:NMIH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.18. NMI had a net margin of 55.32% and a return on equity of 17.33%. The business had revenue of $173.25 million during the quarter, compared to analysts' expectations of $169.04 million. During the same quarter in the prior year, the business posted $1.08 EPS. The company's revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts forecast that NMI will post 4.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NMIH. UBS Group cut their target price on shares of NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price on shares of NMI from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods cut their target price on shares of NMI from $43.00 to $42.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays downgraded shares of NMI from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, NMI currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.14.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.